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CTP lines up 1.9 billion financing package for real estate portfolio
By Sarah Lizee
Olympia, Wash., June 24 CTP and a consortium of three banking groups agreed on underwriting package of 1.9 billion, according to a press release.
The financing is for CTP's Czech industrial portfolio, comprised of 200 buildings, covering 2.7 million square meters of premium industrial space.
The seven-year loans provide for the refinancing of 1.6 billion of existing properties and extends 269 million in new financing for projects to be completed in the next 18 months, the company said.
The transaction consolidates 40 existing loan agreements into one syndicated loan.
This deal sets a new benchmark for real estate financing in Central and Eastern Europe in terms of size and complexity, the company said in the release.
The mandated lead arrangers are Erste Group Bank AG, Ceska sporitelna, AS, Societe Generale SA, Komercni banka, AS, UniCredit SpA, UniCredit Bank Czech Republic and Slovakia, AS.
Komercni banka is the agent.
CTP is a full-service commercial real estate developer and manager based in Prague.
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